Law and legal issues

A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.

The Securities and Exchange Commission sued the two largest cryptocurrency exchanges this week over allegations of operating as unregistered securities exchanges, rattling the industry but potentially lighting the way to more regulatory certainty.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

Javice has asked a Delaware federal judge overseeing JPMorgan's fraud lawsuit against her to allow her to demand documents from the bank and firms that advised it on the $175 million acquisition of her college loan planning site.

The New York State Department of Financial Services found the company failed to adequately protect itself from data breaches. Since 2018, OneMain has suffered multiple cybersecurity incidents.

The justices ruled this week that a lower court should have ordered the FDIC to reconsider its lifetime ban of a Michigan banker instead of deferring to the agency's judgment. The decision could make financial regulators more hesitant to take certain enforcement actions, experts predict.

The three-year-old law required banks and other corporations based in the nation's most populous state to appoint a minimum number of board members from designated underrepresented communities. A federal judge said that it imposed an unconstitutional racial quota.

Under a tax-sharing agreement, the money will eventually be divided between the holding company and an FDIC receiver, who is overseeing the remnants of the failed bank.

The San Francisco bank agreed to a deal with its shareholders after allegedly making misleading statements about its progress in resolving regulatory problems. The agreement is the second-largest bank class-action settlement in history.

Firms across every sector are struggling with higher interest costs — making it more challenging to refinance loans and bonds — while corporate executives are drawing more scrutiny from investors and creditors.

Investors argues in suit that Jamie Dimon and other executives risked the bank's reputation in their dealings with the disgraced financier.

The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.

Sens. Mark R. Warner, D-Va., and Mike Crapo, R-Idaho have reintroduced a bill that would deploy roughly $100 million in aid through the Community Development Financial Institution Fund to back pilot programs that would foster secondary markets for loan sales.

Goldman Sachs Group is in talks to settle a high-profile lawsuit alleging gender pay disparity, ahead of going to trial next month, according to people with knowledge of the matter.

Metropolitan Bank Holding is rescinding a $7.5 million loan it made to its CEO, and canceling a stock purchase he used the proceeds to fund, after determining that the loan was likely impermissible.

The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

The head of the Council of Federal Home Loan Banks argues that the special lien status of Home Loan bank advances, created by legislation in the 1980s, is largely irrelevant in today's marketplace.

The bank's decision to allow former boss Jes Staley to leave on good terms is under fresh scrutiny as several U.S. legal cases reveal new details of his interactions with Jeffrey Epstein.

The world's largest retailer sued Capital One over their four-year-old credit card partnership, saying the bank failed to meet customer service standards. The McLean, Virginia-based bank disputed the allegations, and analysts said that the firm could compensate by landing new credit card partnerships or cutting back on marketing expenses.